Connecticut is ranked 17th in the nation for middle market company growth, according to the latest Middle Market Power Index.
The Nutmeg State has an estimated 2,505 middle market companies, or just under 1 percent of all firms in the state, the report states. Middle market companies typically earn between $10 million and $1 billion in annual revenues, according to American Express and Dun & Bradstreet, which produced the index.
This report finds that the middle market is an increasingly important sector. While middle market firms make up less than 1 percent of all U.S. businesses, they contribute about one in four dollars (27 percent) and employ a little more than a quarter of U.S. workers (27 percent) in the private sector.
Overall, middle market firms were also responsible for more than half (51.7 percent) of the 51.8 million new jobs that have been created in the U.S. since 2011, report authors state.
Growth in number of middle market firms was measured between 2011 and 2016.
